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Automotive News Headlines - Yahoo! News
  • Soros eyes investing in auto dealer groups - report

    Soros, Chairman of Soros Fund Management, speaks during the session 'Recharging Europe' in the Swiss mountain resort of DavosBillionaire financier George Soros wants to invest in or buy a large automotive dealership group, potentially following in the footsteps of Warren Buffett, Automotive News reported. Two representatives of Soros Fund management, which Soros chairs, attended the National Automobile Dealers Association convention in San Francisco over the weekend to research the industry and find potential investing opportunities, the industry trade publication said, citing four sources familiar with the situation. A deal by Soros would follow a similar move last year by Buffett's Berkshire Hathaway Inc , which announced the purchase of the Van Tuyl Group auto dealership. Soros is interested in the car business as a way to diversify his fund's holdings and cash flow opportunities, and buying a large dealership group was one option, the sources told Automotive News.




  • Volkswagen to recall 80,000 Audis; 35,000 in China

    Audi four rings logo is seen at Auto Show in WashingtonGerman car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles are from China. China is Audi's biggest market. China's official Xinhua news agency, citing the country's quality watchdog, reported that Volkswagen's local joint venture, China FAW-Volkswagen Automotive Co Ltd, will begin the recall on March 20, affecting various Audi A4, A5, A6, A7 and Q7 models.




  • Takata exec indicted in US for fixing seatbelt prices

    US grand jury indicted Thursday an executive of Takata, the Japanese auto parts company accused of producing faulty airbags, with price-fixing in the auto seatbelts marketA US grand jury indicted Thursday an executive of Takata, the Japanese auto parts company accused of producing faulty airbags, with price-fixing in the auto seatbelts market. A federal grand jury in the automotive hub Detroit accused Hiromu Usuda with one count of conspiring to fix the prices of seatbelts the company sold to Japanese automakers in the United States -- Honda, Toyota, Subaru, Nissan and Mazda. Tokyo-based Takata Corp. already paid a $71.3 million criminal fine in December 2013 in the case after pleading guilty to its role in the price-fixing operation.




  • Prospect of Chinese cars in US still remain years away

    Xiangdong Huang, president of GAC Engineering, left, and Yuan Zhongrong, vice chairman of GAC, pose with the automaker's new GS4 during the North American International Auto Show, Monday, Jan. 12, 2015 in Detroit. (AP Photo/Carlos Osorio)DETROIT (AP) — Another Chinese automaker is showing vehicles this year at the auto show in Detroit, raising the perennial question about when these companies might sell in the United States.




  • IHS reports better-than-expected profit on lower costs
    By Arathy S Nair (Reuters) - IHS Inc, the publisher of Jane's Defense Weekly, reported a better-than-expected quarterly profit, helped by lower operating expenses. The business and information services provider's shares rose as much as 11.6 percent to $122.92 in early trading. The company said acquisition-related costs fell to $884,000 from $5.4 million in the fourth quarter ended Nov. 30. "We took a pause after our very big acquisition of R.L. Polk, we de-levered and now we are acquiring again," Chief Executive Scott Key said. The company bought R.L. ...

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